Tax deduction on interest: payments under the Land Acquisition Act require withholding under the tax-deduction-at-source regime. Interest paid under the Land Acquisition Act falls within the statutory tax-deduction-at-source regime applicable to interest paid to residents; non-individual payers such as State Development Authorities and similar bodies must deduct tax at source at the time of credit or payment, deposit the tax with the Central Government within prescribed periods, and are subject to penal consequences for failure to deduct or remit.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax deduction on interest: payments under the Land Acquisition Act require withholding under the tax-deduction-at-source regime.
Interest paid under the Land Acquisition Act falls within the statutory tax-deduction-at-source regime applicable to interest paid to residents; non-individual payers such as State Development Authorities and similar bodies must deduct tax at source at the time of credit or payment, deposit the tax with the Central Government within prescribed periods, and are subject to penal consequences for failure to deduct or remit.
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